Small-biz optimism hits a high

Thursday

Nov 15, 2012 at 6:00 AM

BLOOMBERG NEWS

Confidence among U.S. small businesses rose to a five-month high in October as more companies projected a pickup in sales, a survey found. In addition, 4 percent of small-business owners said they planned to create new jobs, the same as in September. A net 16 percent said they had job openings that were hard to fill, down 1 point from the prior month. The jobless rate in the U.S. has remained near 8 percent since early 2009.

The National Federation of Independent Businessís optimism index increased to 93.1 last month from 92.8 in September. Four of the measureís 10 components contributed to the advance, the Washington-based group said.

The NFIB report was based on a survey of 2,029 small-business owners through Oct. 30. Small companies represent more than 99 percent of all U.S. employers, according to the U.S. Small Business Administration. A small business is defined as an independent enterprise with no more than 500 employees.

The index measuring respondentsí outlook for sales rose to a net 3 percent, up 2 points from the previous month. The proportion of small businesses planning to make capital investments in the next three to six months advanced by 1 point to 22 percent in October.